GameStop Corp. announced on September 23, 2024, the completion of its previously disclosed 'at-the-market' equity offering program. The company successfully sold the maximum registered amount of 20,000,000 shares of its common stock through this program.
This offering generated aggregate gross proceeds of approximately $400 million for GameStop, before accounting for commissions and offering expenses. The company stated its intention to use the net proceeds for general corporate purposes.
These general corporate purposes may include potential acquisitions and investments, providing GameStop with additional financial flexibility. The successful completion of this capital raise strengthens the company's balance sheet and supports its ongoing transformation initiatives.
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